Barclays analyst Adrienne Yih initiated coverage of Crocs with an Overweight rating and $167 price target. The company has strong fundamentals with the highest margin, cash conversion cycle, and return metrics in the footwear group while trading at a significant discount to the peers, the analyst tells investors in a research note. The firm likes Crocs’ “unique and differentiated” product offering that capitalizes on personalization trends with clogs and Jibbitz accessories.
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